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Affordable Housing Analysis in Zip Code 45244: Two Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 45244, located in Ohio, contains a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 185 total units, with 184 designated as low-income units. This zip code, which includes the Dry Run area, has an estimated population of 27,714 as of 2022. Based on the national average household size, the estimated housing inventory for this zip code is approximately 10,618 units. The LIHTC funded affordable housing represents about 1.74% of the estimated housing units in zip code 45244.
The LIHTC program has supported affordable housing in zip code 45244 since 1988, with the most recent project completed in 2008. This indicates a 20-year span of LIHTC involvement in the area. The 2000s saw the most significant addition to the affordable housing stock with the completion of Beechwood Villas Apartments in 2008, adding 184 units to the inventory.
The affordable housing stock in zip code 45244 consists primarily of one and two-bedroom units. There are 74 one-bedroom units, 86 two-bedroom units, and 24 three-bedroom units. This distribution suggests a focus on accommodating smaller households and families.
Over the past decade, the population in zip code 45244 has shown slight fluctuations, with an overall growth trend. The population increased from 26,881 in 2013 to 27,714 in 2022, representing a growth of about 3.1%. During this period, the median income also saw an upward trend, rising from $103,673 in 2013 to $107,955 in 2022, an increase of approximately 4.1%.
The racial composition of zip code 45244 has remained relatively stable, with a slight decrease in the white population from 95% in 2013 to 91% in 2022. There has been a small increase in diversity, with slight growth in the Black, Hispanic, and multi-racial populations.
No new LIHTC projects have been completed in zip code 45244 since 2008. This could be related to the area's relatively high median income, which may indicate less need for additional low-income housing in recent years.
The LIHTC program has contributed to the affordable housing stock in zip code 45244, providing 185 units, almost all of which are designated for low-income residents. This represents a small percentage of the estimated total housing units, but has been a consistent presence in the area for two decades. The zip code has experienced moderate population growth and income increases over the past decade, with a slight trend towards increased racial diversity. These demographic shifts, particularly the high median income, may have influenced the lack of new LIHTC projects in recent years.
